Every business needs a secure accounting software that can enable them to monitor their progress, record assets and liabilities, maintain ledgers to evaluate the economic position of a company. With Odoo 12 Accounting businesses can record their transactions; process payments; create, send, and reconcile invoices; and audit statements. The software is connected to sales, Odoo Invoicing, manufacturing, inventory, subscriptions, POS, eCommerce, sales, expenses, and more for providing complete accuracy.
Let’s explore some basic features of Odoo Accounting
Invoices and Payments
Odoo Accounting software enables businesses to manually create and send invoices through an invoicing app or a sales app. The software also facilitates accountants to split an invoice into multiple payments or payments into multiple invoices. With Odoo accounting module businesses can even process their payments through payment gateway connectors, credit cards, debit cards, wire transfers and more. It supports main payment gateways like Authorize.net, Ingenico, Paypal, Adyen, etc.
2. Reconciliation
Odoo Accounting module makes it easier for businesses to reconcile their invoices with banks and other systems in real-time. Odoo synchronizes directly with your bank accounts to get bank statements imported automatically in Odoo in every 4 hours.
3. Reports
Businesses constantly monitor their accounting reports to evaluate profit and loss, cash flow, tax audit statements, and more. Odoo allows businesses to easily create these reports using internal data. Businesses can also customize their dashboard data with shows charts and KPIs important to them.
Let’s Explore Some Benefits of Accounting with Odoo 12 Accounting Software
- Oddo creates an additional entry of every transaction like invoices, the point of sales (POS), customer invoices and more. The double-entry bookkeeping software is put into practice to stabilize journal entries.
- Odoo 12 Accounting supports accrual and cash basis methods to report income or expense at the time of evaluating transactions.
- Robust software efficiently supports and manages transactions of multiple companies. It facilitates users to receive instant access to their account details on-the-go using smartphones or tablets.
